Seoul: Shares post biggest daily losses in 3 years; won down

[SEOUL] South Korean shares on Monday posted their sharpest daily losses in more than three years, after a Greek vote against austerity measures raised the prospect the country could be forced out of the European common currency.

The Korea Composite Stock Price Index (KOSPI) closed at 2,053.93 points, down 2.4 per cent, the largest daily percentage loss since June 4, 2012. Losing shares outnumbered winners 671 to 164.

Foreign investors were net sellers, offloading a net 287.5 billion won (US$255.19 million) worth of the KOSPI shares, preliminary data showed.

The won ended local trade down 0.3 per cent at 1,126.5 against the dollar, after falling as low as 1,128.6, the lowest since March 18.

REUTERS